Pending Home Sales on the Rise

Nov 29, 2017

Home sales will inch up in 2019 while prices rise at a slower pace, according to a new forecast from the National Association of Realtors (NAR)

After three months of declining activity, pending home sales took an upswing in October, according to the National Association of Realtors (NAR).

The Pending Home Sales Index (PHSI) was up 3.5 percent to 109.3 in October from a downwardly revised 105.6 in September, and the index is now at its highest reading since its 110 reading in June. However, it is 0.6 percent below a year ago.

On a regional measurement, the PHSI in the Northeast was up 0.5 percent to 95.0 in October, and the Midwest index increased 2.8 percent while the PHSI in the South rose by 7.4 percent to a 123.6 reading. But the index in the West decreased 0.7 percent in October to 101.6.

“Last month’s solid increase in contract signings were still not enough to keep activity from declining on an annual basis for the sixth time in seven months,” said Lawrence Yun, NAR’s Chief Economist. “Home shoppers had better luck finding a home to buy in October, but slim pickings and consistently fast price gains continue to frustrate and prevent too many would-be buyers from reaching the market.”

About the author

Phil Hall

Link copied

Published

Nov 29, 2017

Non-QM

What Non-QM Leaders Say Originators Should Do Before Year-End

At NMP’s Non-QM Town Hall, lender executives shared where they’re seeing volume, where originators can find untapped business, and why execution matters more than ever

The next Non-QM deal may not require another lead source.It could be an investor whose deal didn't work a year ago. A self-employed borrower sitting in an originator's CRM. A homeowner who needs cash but doesn't want to disturb a first mortgage. Or a past client who owns thr...

Tech

Newrez Turns Servicing Data Into Repeat Business For Brokers

HomeHub expansion routes financing interest from protected wholesale borrowers back to their originating loan officers

Newrez is extending its homeowner-engagement platform to wholesale borrowers, giving brokers a potential path back to clients when another mortgage opportunity emerges.HomeHub is now available to protected wholesale borrowers, allowing homeowners to monitor estimated home va...

Nov

Houston, TX

More from

Industry News

Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Industry News

Sep 29, 2026

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026